Manuel Silva

Cleary counsels BBVA Mexico on $900m offering

Cleary Gottlieb has counselled BBVA, Goldman Sachs, HSBC and Morgan Stanley, as dealers, on a USD $900m offering of BBVA Mexico’s 8.125% Tier 2 Subordinated Senior Tier 2 Notes due 2039, under its $10 billion Medium-Term Note Program. Simpson Thacher also advised BBVA México, acting through its Texas Agency, while Ritch Mueller acted as counsel to the dealers in Mexico.

The offering was priced on 3 January 2024 and is expected to settle on 8 January 2024. The Notes were offered for sale in the United States pursuant to Rule 144A and abroad pursuant to Regulation S under the U.S. Securities Act of 1933, as amended.

Simpson Thacher’s team comprised Juan M. Naveira, Kirsten L. Davis and Hernan Alal from the Latin America – Capital Markets team; and Jonathan Cantor and Edward Grais advising on Tax matters.

Ritch Mueller’s team consisted of partners Eric Silberstein Lerner and Pablo Perezalonso Eguía, and associates Ernesto Talamás Velázquez and Juan Carlos Pérez Rocha Caudillo.

Cleary’s team included partner Manuel Silva (pictured) and associates Stephanie Monroe Rohlfs and Alejandro Martínez-Inzunza. Partner Matthew Brigham, associate Michael Sims, and law clerk Mingyu Tang advised on U.S. tax matters. All lawyers are based in New York.

L Giselle Estrada